GRAINS-Soybeans jump to 3-month high on Chinese demand hopes

By Naveen Thukral

SINGAPORE, Feb 25 (Reuters) - Chicago soybeans climbed to a three-month high on Wednesday, buoyed by optimism over Chinese demand as comments from Beijing eased some concerns about U.S. tariff policy.

Wheat and corn futures firmed.

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 added 0.8% to $11.64-1/2 a bushel as of 0348 GMT, having climbed to the highest since November 18 at $11.66 a bushel earlier in the session.

Wheat Wv1 rose 0.3% to $5.75 a bushel and corn Cv1 gained 0.5% at $4.40-1/2 a bushel.

"The market is expecting China to buy U.S. soybeans, which is supporting prices," said one oilseed trader in Singapore. "But we have to wait and see what will be the implication of the U.S. Supreme Court order."

U.S. soybean suppliers have been waiting to see how China reacts after the U.S. Supreme Court struck down President Donald Trump's global reciprocal tariffs on Friday.

Trump then announced a new general rate of 10%, which he later said would rise to 15%.

China is closely monitoring U.S. policies and will decide "in due course" whether to adjust its countermeasures to U.S. tariffs, a commerce ministry official said on Tuesday.

Beijing is willing to hold consultations during the upcoming sixth round of economic and trade talks between the two countries, the official added.

Reduced tariff pressure from the United States could encourage China to focus on booking supplies from an expected record Brazilian crop.